Mortgage Finance In Central And Eastern Europe -- Opportunity Or Burden ?

Abstract

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Is Financial Fragility a Matter of Illiquidity? An Appraisal for Italian Households

“…This result is in line with the studies by Georgarakos et al . () and Giarda (), for example, but contrasts with work that finds financial problems to be related to age (e.g., Brown and Taylor, ; Duygan‐Bump and Grant, ; Beck et al ., ; Lusardi et al ., ).…”

“…This literature responds to the increased level of household debt related to house purchase during the real estate boom period: among others, Kida () employs indicators based on the loan‐to‐value ratio and mortgage installment arrears, while Gan and Hill () study the difference between purchase affordability (related to borrowing capability) and repayment affordability (related to the mortgage burden). Other analyses are based on the responses to questions concerning the financial burden due to housing costs (May and Tudela, ; Beck et al ., ; Georgarakos et al ., ) or mortgage or other debt repayment arrears (Duygan‐Bump and Grant, ; Magri and Pico, ).…”

Financial Fragility Across Europe and the US: The Role of Portfolio Choices, Household Features and Economic-Institutional Setup

“…as May and Tudela (2005), Duygan-Bump and Grant (2009), Magri and Pico (2009), Beck et al (2010) and Georgarakos et al (2010), rely on questions concerning the financial burden due to housing costs or being in arrears on mortgages or other debt payments.…”

Who Borrows and Who May Not Repay?

“…Interestingly, Beck et al (2010), who use SILC data for a number of old and new EU member states to analyze the determinants of access to mortgages, also compare the self-reported financial distress and vulnerability of mortgage owners versus renters and outright owners and find no difference between these groups.…”